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Saudi Arabia Ranks 4th Globally in Digital Services

The headquarters of the Digital Government Authority (Asharq Al-Awsat)
The headquarters of the Digital Government Authority (Asharq Al-Awsat)
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Saudi Arabia Ranks 4th Globally in Digital Services

The headquarters of the Digital Government Authority (Asharq Al-Awsat)
The headquarters of the Digital Government Authority (Asharq Al-Awsat)

Saudi Arabia has excelled in the United Nations E-Government Development Index (EGDI) and its related sub-indices, rising 25 positions in 2024 to join the ranks of leading nations globally.

The Kingdom now ranks fourth worldwide, first regionally, and second among G20 countries in the Digital Services Index. It also secured sixth place in the overall E-Government Development Index, seventh in the E-Participation Index, while Riyadh placed third in the Local E-Services Index, behind Tallinn and Madrid, out of 193 cities globally.

This achievement reflects the government’s extensive efforts and digital reforms under the Vision 2030 initiative, particularly through its Digital Transformation Program and various e-government projects. The private sector also contributed to this progress, as enhanced digital services and infrastructure boosted investor confidence and encouraged investment.

Saudi Arabia’s rise of 25 places marks the first time a Middle Eastern country has entered the global top 10 in the E-Government Index. In 2022, the Kingdom had already advanced 12 places, supported by e-government initiatives. Now, Saudi Arabia, South Korea, and Singapore are the only Asian countries in the top 10.

Additionally, the Kingdom ranked second globally in digital government services among G20 nations, first in the Middle East, and second in Asia. It also made substantial leaps in other areas, climbing 53 spots in the Telecommunications Infrastructure Index and 31 in the Human Capital Index.

The United Nations highlighted Saudi Arabia’s remarkable progress in the E-Services Index, where it jumped 67 places to rank fourth globally. Government digital regulations and the availability of open government data both reached 100%, while the Kingdom advanced 60 places in e-participation and consultations with citizens and businesses.

The Saudi Minister of Communications and Information Technology, Abdullah Al-Swaha, expressed his gratitude to King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman for their unwavering support of the digital sector and government transformation efforts. He credited this backing for Saudi Arabia's historic rise in global digital rankings, reflecting the goals of Vision 2030 and strengthening the country's role as a leader in the regional and global digital economy.

Governor of the Digital Government Authority Ahmed Al-Suwayan highlighted that the Kingdom’s progress in the UN E-Government Development Index is a direct result of leadership support. He emphasized that reforms and investments under Vision 2030 have enhanced cooperation between government entities, leading to the adoption of emerging technologies and the launch of key digital initiatives.

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Business

Saudi PIF, Italy’s SACE Sign $3 Bn MoU

The MoU focuses on providing financing support for cooperation between Italian companies in the private sector and PIF and its portfolio companies (PIF)
The MoU focuses on providing financing support for cooperation between Italian companies in the private sector and PIF and its portfolio companies (PIF)
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Saudi PIF, Italy’s SACE Sign $3 Bn MoU

The MoU focuses on providing financing support for cooperation between Italian companies in the private sector and PIF and its portfolio companies (PIF)
The MoU focuses on providing financing support for cooperation between Italian companies in the private sector and PIF and its portfolio companies (PIF)

Saudi Arabia’s Public Investment Fund (PIF) and SACE, the Italian insurance and financial group fully owned by Italy’s Ministry of Economy and Finance, have signed a memorandum of understanding (MoU) aimed at strengthening their bilateral partnership.

Under the agreement, PIF and SACE will collaborate on information-sharing and business expertise, with a particular focus on strategic sectors.

The MoU also includes a provision for SACE to consider offering up to an additional $3 billion in financing support for projects led by PIF and its portfolio companies.
The signing builds on an existing relationship between PIF and SACE, which has already facilitated financing exceeding $3 billion for PIF portfolio companies, with participation from several leading financial institutions.

As a key driver of Saudi Arabia’s Vision 2030 and a leading global investor, PIF is focused on diversifying and transforming the Saudi economy by developing new sectors, businesses, and job opportunities.

This latest agreement aligns with PIF’s ongoing strategy to expand financial collaborations, enhance global cooperation, and foster long-term international partnerships.

The MoU is part of PIF’s broader approach to maintaining strong relationships with international financial institutions while diversifying its financing instruments.

Rasees Al Saud, Head of Financial Institutions and Investor Relations, Global Capital Finance at PIF, highlighted the significance of the partnership: “The MoU represents another landmark in PIF’s strategy to enhance its strategic partnerships with leading international financial institutions and export credit agencies.”

“It will unlock opportunities for both Italian and Saudi companies to collaborate and exchange business knowledge, in line with our commitment to driving impactful and transformative investments globally and in Saudi Arabia,” said Al Saud.

CEO of SACE Alessandra Ricci emphasized the benefits for Italian companies: “We are proud to collaborate with a distinguished institution like PIF.”

“This partnership will facilitate Italian exports and strengthen trade and investment ties between our two countries,” noted Ricci.

“The memorandum opens significant opportunities for Italian companies, especially SMEs, enabling them to become key suppliers and participate in projects sponsored by PIF and its portfolio companies, all in alignment with Saudi Vision 2030,” she explained.

PIF currently holds an Aa3 rating from Moody’s (stable outlook) and an A+ rating from Fitch (stable outlook), reinforcing its financial stability and global credibility.